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Technology Stocks : Nortel Networks (NT) -- Ignore unavailable to you. Want to Upgrade?

To: Northern Cougar who wrote (9391)	1/23/2001 7:18:44 PM
From: Phillip Kelly	Respond to of 14638

Very Bullish Report from Investorlinks.com. I do not believe anyone discussed. Link - investorlinks.com All Signs Show Nortel Ready To Move Up Now StockHouse.com Columnist Yola Edwards, January 23, 2001 Technical charts indicate that shares of the giant telecommunications networking equipment maker Nortel Networks (NT, Chart, Boards) may have bottomed and anxious investors looking for the bottom may wish to jump on board soon. The stock is temporarily overbought at $40 and may pull back to the 30-day moving average line measuring to the $35 level over the next few days. It appears that after a very brief even intra-day, pull back, shares of Nortel are setting the stage to vault significantly higher over the next two weeks. Technically, the only negative in the short-term, appears to be that Nortel's share price is overextended by about $4, as it bumps up against the upper envelope level. Near-term, Nortel's stock appears ready to surge 15% to 31% to the $46 level, depending on whether the stock pulls back to $35 or vaults from current levels. Either way, investors could look toward renewed positive momentum in the stock. "...anxious investors looking for the bottom may wish to jump on board." Nortel's stock appears to have completed the four stages in a technical cycle and could be in the process of breaking out of an abbreviated Stage I, consolidation phase. If the stock is entering Stage II, the acceleration stage, investors could be in for a wild, profitable ride. The explosion in the stock is close at hand as the 10-day moving average has turned positive and is within days of crossing up over the 30-day moving average, which is also flattening out. Stocks normally soar within days of such an event occurring. Near-term the stock has bounced up out of a small downtrend channel and will encounter the next downtrend line at the $46 level. If the stock climbs to $46 it may trade sideways in a consolidation pattern for a week or two, before surging to the $60 level, as it retraces and fills the stock's severe price drop suffered October 24. If the pattern plays out, investors could expect Nortel to reach the $60 level by the end of March. Stock price movements usually foretell future fundamental changes and Nortel seems to be speaking volumes. --------------------------------------------------------------------------------